Generate Biomedicines (GENB) Registration Filing summary

Company overview and business model

• Operates as a clinical-stage generative biology company using AI-driven drug design to create protein therapeutics across multiple modalities and therapeutic areas.

• The proprietary Generate Platform integrates computational models and scalable biohardware for rapid, intentional design and testing of new therapeutics.

• Lead product candidate, GB-0895, is a long-acting anti-TSLP monoclonal antibody for severe asthma, with additional programs in oncology and collaborations with major pharma partners.

• Business model includes internal pipeline development and strategic collaborations with Amgen and Novartis, leveraging platform capabilities for milestone and royalty payments.

Financial performance and metrics

• Reported net losses of $223.0 million in 2025 and $181.4 million in 2024, with an accumulated deficit of $676.3 million as of December 31, 2025.

• Collaboration revenue was $31.9 million in 2025, up from $20.5 million in 2024, primarily from Amgen and Novartis agreements.

• Cash, cash equivalents, and marketable securities totaled $221.5 million at year-end 2025.

• Research and development expenses increased to $224.7 million in 2025, reflecting pipeline advancement and platform investment.

Use of proceeds and capital allocation

• Net proceeds from the IPO, combined with existing cash, will primarily fund: completion of two Phase 3 trials for GB-0895 in severe asthma, completion and next phase of GB-0895 in COPD, platform and technology innovation, advancement of GB-4362 and GB-5267 through topline Phase 1 data, and additional R&D and working capital.

• Management expects current resources and IPO proceeds to fund operations through at least the next twelve months, but anticipates the need for additional capital.